Zomato Ltd. : Equity Research Report by Sanjeedeep Mishra

Zomato’s first-ever quarterly profit triggered sharp interest in the stock, with investors rushing to lap up shares as soon as the markets opened on Friday. Nearly 5.25 crore shares changed hands in the opening trade on the NSE, catapulting the stock price by over 8% to its 52-week high of Rs 93.65.

While the June quarter earnings were announced during the fag of Thursday's trading session, the stock responded immediately and jumped 2%. Following the results, Jefferies and Nuvama recommended a 'Buy', giving a fresh impetus to the stock.

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